J.P. Morgan Raises ITW CY'11 EPS

J.P. Morgan is raising its EPS estimate on Illinois Tool Works

. “We are raising our CY'11 EPS from $3.64 to $3.78, on the back of Q4 actuals,” J.P. Morgan writes. “Our model assumes organic growth of 7%; total growth of 13%; operating margins of 15.7% and total incremental margins (not adjusted for acquisitions) of 21.8%. For Q1'11 we are forecasting $0.83 vs. prior $0.80, based on the new reporting framework.” Illinois Tool Works closed Monday at $53.49.